Atlanticus Holdings Corporation (NASDAQ: ATLC) (“Atlanticus,” “the
Company”, “we,” “our” or “us”), a financial technology company
which enables its bank, retail and healthcare partners to offer
more inclusive financial services to millions of everyday
Americans, today announced it has commenced an underwritten
registered public offering (the “Offering”) of Senior Notes due
2026 (the “Notes”). The Company expects to grant the underwriters a
30-day option to purchase additional Notes in connection with the
offering.
The Company expects to use the net proceeds of
this Offering for general corporate purposes.
In connection with the Offering, the Company
will apply to list the Notes on the Nasdaq Global Select Market
("Nasdaq") under the symbol "ATLCL." If approved for listing,
trading on Nasdaq is expected to commence within 30 business days
after the Notes are first issued.
The Company and this issuance of Notes received
an “A” rating from Egan-Jones Ratings Company, an independent,
unaffiliated rating agency. Ratings are not a recommendation to
purchase, hold or sell Notes, inasmuch as the ratings do not
comment as to market price or suitability for a particular
investor. The ratings are based upon current information furnished
to the rating agency by the Company and information obtained by the
rating agency from other sources. The ratings are only accurate as
of the date thereof and may be changed, superseded or withdrawn as
a result of changes in, or unavailability of, such information, and
therefore a prospective purchaser should check the current ratings
before purchasing the Notes. Each rating should be evaluated
independently of any other rating.
B. Riley Securities, Inc., Janney Montgomery
Scott LLC, Ladenburg Thalmann & Co. Inc., and William Blair
& Co., L.L.C. are acting as book-running managers for this
offering. EF Hutton, division of Benchmark Investments, LLC is
acting as lead manager for this offering. Aegis Capital Corp.,
Brownstone Investment Group, LLC, InspereX LLC and Maxim Group LLC
are acting as co-managers for this offering.
The Offering of these Notes is being made
pursuant to an effective shelf registration statement on Form S-3,
which was initially filed with the Securities and Exchange
Commission (the “SEC”) on May 6, 2021 and declared effective by the
SEC on May 13, 2021. The Offering will be made only by means of a
prospectus and prospectus supplement. A copy of the prospectus and
prospectus supplement relating to these securities may be obtained,
when available, from the website of the SEC at http://www.sec.gov
or by contacting: B. Riley Securities, Inc., 1300 17th Street
North, Suite 1300, Arlington, Virginia 22209, Attn: Prospectus
Department, Email: prospectuses@brileyfin.com, Telephone: (703)
312-9580.
This press release shall not constitute an offer
to sell or the solicitation of an offer to buy, nor shall there be
any sale of these securities in any state or jurisdiction in which
such offer, solicitation, or sale would be unlawful prior to
registration or qualification under the securities laws of any such
state or jurisdiction.
About Atlanticus Holdings
Corporation
Empowering Better Financial Outcomes for
Everyday Americans
Atlanticus’ technology allows bank, retail, and
healthcare partners to offer more inclusive financial services to
everyday Americans through the use of proprietary analytics. We
apply the experience gained and infrastructure built from servicing
over 18 million customers and $26 billion in consumer
loans over our 25-year operating history to support lenders that
originate a range of consumer loan products. These products include
retail and healthcare credit and general-purpose credit cards
marketed through our omnichannel platform, including retail
point-of-sale, healthcare-point of-care, direct mail solicitation,
internet-based marketing, and partnerships with third parties.
Additionally, through our CAR
subsidiary, Atlanticus serves the individual needs of
automotive dealers and automotive non-prime financial organizations
with multiple financing and service programs.
Forward-Looking Statements
This press release contains forward-looking
statements within the meaning of the Private Securities Litigation
Reform Act of 1995. You generally can identify these statements by
the use of words such as “outlook,” “potential,” “continue,” “may,”
“seek,” “approximately,” “predict,” “believe,” “expect,” “plan,”
“intend,” “estimate” or “anticipate” and similar expressions or the
negative versions of these words or comparable words, as well as
future or conditional verbs such as “will,” “should,” “would,”
“likely” and “could.” These statements are subject to certain risks
and uncertainties that could cause actual results to differ
materially from those included in the forward-looking statements.
These risks and uncertainties include those risks described in the
Company's filings with the Securities and Exchange Commission and
include, but are not limited to, risks related to the extent and
duration of the COVID-19 pandemic and its impact on the Company,
bank partners, merchants, consumers, loan demand, the capital
markets, labor availability, supply chains and the economy in
general; the Company's ability to retain existing, and attract new,
merchants and funding sources; changes in market interest rates;
increases in loan delinquencies; its ability to operate
successfully in a highly regulated industry; the outcome of
litigation and regulatory matters; the effect of management
changes; cyberattacks and security vulnerabilities in its products
and services; and the Company's ability to compete successfully in
highly competitive markets. The forward-looking statements speak
only as of the date on which they are made, and, except to the
extent required by federal securities laws, the Company disclaims
any obligation to update any forward-looking statement to reflect
events or circumstances after the date on which the statement is
made or to reflect the occurrence of unanticipated events. In light
of these risks and uncertainties, there is no assurance that the
events or results suggested by the forward-looking statements will
in fact occur, and you should not place undue reliance on these
forward-looking statements.
Contact:Investor RelationsAdam
PriorSenior Vice President The Equity Group Inc.(212)
836-9606aprior@equityny.com
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